Speaking at an energy efficiency conference on Wednesday, Mr Weatherill vowed the government would “vigorously pursue” the tax despite the Australian Bankers’ Association public relations campaign.

“I mean, are we seriously going to be lectured by the banks?” Mr Weatherill said.

“The money launderers to organised crime and terrorist groups, are we seriously going to be getting lectures from them?”

The Premier doubled down on his position on Thursday, saying the banks give “dodgy financial advice (and) false payouts to sick and dying people”.

He added the banks were “trying to destroy our reputation in the nation by publishing full-page ads for which the papers are achieving a very handsome sum” and said “the extent that the mainstream media are co-operating with this, it represents a subversion of our democracy”.